brian shactman joins me on the nyse floor. were just talking, there's confirmation out there too. transports are up 130 points right now, which confirms the idea that the economy may be actually lifting. >> yeah. but it's a funny thing. we talked about in the last segment it was a perfect conversation, do you trust this rally. >> right. >> that's exactly what i want to discuss with you. volume, it's one thing we talk about. it's above average but not furious. >> yeah. it's not stellar. >> ask you, ask anybody, what's materially different now than friday when we were 275 to the downside? >> i don't think there is. but i think perhaps the hedge funds are covering their short positions ahead of bernanke. and i just wonder whether there isn't too high an expectation on the fact that mr. bernanke might actually say something definitive on qe-3. which he traditionally have not used these testimonies to do. >> so what if he isn't so dovish, if you will? we could reverse it all tomorrow. >> exactly. >> so that's why a lot of people ar

more on facebook, but first, let's go to sue at the nyse. >> yeah. we pick up right there, in fact, ty. one of the analysts with a fresh new note on book is on day of our bc capital markets with an outperform rating on facebook with a $40 price target. welcome. nice to see you. >> hello, sue. thank you very much. >> in reading your note, you say there are four primary reasons to own or buy facebook right now. tell me what they are. >> it starts off with the 900 million active users. this is the asset we are talking about. secondly is the opportunity that they face. this is a highly engaged asset base and a lean structure market or a business structure, rather, where the revenue per head count is higher than anyone else on the street or higher than anyone else in the space and finally the opportunity. this is a transformational company. that's the key here. >> what's the possible downside? in other words, i take some of the things that you just mentioned. i think your per head ebitda margins is extremely impressive. what's the downside risks here? >>

>> we were pretty much whetted to going with the nyse.minent customer of ours and we like the people. we like how the place is steeped in tradition. it's been a very good experience for us. >> your company is not going to be profitable this year, i don't believe you've said n 2012. although you did have profitability last year. you're growing very quickly. what assurances can you give to shareholders that you will get back to profitability given -- you've got a accumulated deficit of about $78 million and you're spending a lot of money? >> yes, this is a company that has had extraordinary growth. it is inherently very profitable. we keep it in the position to continue to drive the stellar growth that we've had historically and we have the opportunity -- we really managed the business on cash flow and bookings, profitability. we show profit -- >> people may hear cloud. but what differentiates you from the likes of some of your key competitors whether it's bmc, hewlett-packard or ibm, all of which are far larger companies than your own? >>

sue herera is live at the nyse. sue? >> ty, a rough day for the bulls down here. they went negative for june. the dow down eight of the last mondays. half of the days were triple-digit losses. now german chancellor angela merkel saying, quote, liability and control aren't allowed to be unbalanced. another note to the weaker euro economies that they should get in line and they should get in line right now. here's the bigger picture. the dow jones industrial average is trading down 165 points right now, down 1.3%. we're down 57 points on the sessions, the s&p 500 is down 24, russell is down 13. a big surge just a short while ago in the gold market. the volume is very heavy in gold today as well. matt chesslock is a trader. it's not a good way to start out the week. ms. merkel is basically throwing down the gauntlet at the upcoming euro summit. she's not giving in. >> no, absolutely not. i think you're seeing that. gold, you mentioned it, huge fight for the up side. i think people will find it being played to safety. this euro summit will probably not have any answer

from rick in chicago, we come back to new york and the nyse. if you don't know it by now cnbc.com has an alliance with yahoo! finance. writing about europe today and what happens if the continent becomes a smaller trading partner for the u.s.? thanks for being here. >> good to be here. >> i understand it's already a declining trading partner for the u.s. >> we heard that europe is our biggest trading partner. if they go south, won't it drag the u.s. down? and when you look at the data it're clear the trading with europe is stagnant since 2008. the euro zone is a very big place to export a lot, import a lot from, but china, canada and mexico are near neighbors. africa, latin america, they're picking up the slack, and so, by the end of the year, it might be that the euro zone is not the biggest trading partner. >> what's the implication? i guess that companies need ntd be as concerned about what goes on in europe, i suppose. >> right. the important thing to consider in the suffering of the greeks and the italians and the spain yards is how does i

brian shactman at the nyse for tyler mathson today. we start with bertha coombs in lower manhattan. >> 63-year-old gupta, former head of mckenzie, former director of goldman sachs convicted today by eight women and four men of insider trading saying the evidence was overwhelming that he did tip his friend and colleague when it came to some key goldman sachs trades at the height of the financial crisis. they found that evidence overwhelming despite the fact that it was mostly circumstantial. they convicted him of four of six counts. one count of conspiracy which carries five years. three counts of securities fraud involving one with the $5 billion investment of warren buffett in september of 2008 and another involving the goldman sachs earnings warnings loss in october of 2008. interestingly, while they never heard g you pta on tape talking about it, they heard strong corroborating evidence after a strong pattern presented by the prosecution. defense attorney predictably saying he's disappointed and that he will appeal. >> we think this

the nyse's c.e.o. duncan niederauer told house lawmakers today that the public has never been more disconnected from the marketplace. he was testifying on the rise of high frequency trading and computerized trading programs. >> susie: the market chief said citizens have lost trust and confidence in the market's underlying mechanisms. >> tom: some of that investor confidence has been shaken by the facebook stock sale. the company went public with lots of hype, but the initial offering was marred by technical glitches and complaints that big investors got information about facebook's business that smaller investors did not. the stock started at $38 per share, and continues well below that price despite more than a 20% rally in the past two weeks. today's new stock was burger king, returning to the public market a year and a half after it was taken private. shares closed up 3.7% on its first today trading. ilan moscovitz is a senior analyst at the motley fool. testifying to congress. is the stock sale pro

but it was a down day for most other stocks trading here at the nyse. >> tom: let's take a look at what's happening in tonight's market focus. stronger new home sales in the u.s. were not enough ahead of a summit this week of european leaders. stocks were weak right from the opening bell. the lowest point of the day came at noon eastern and finished down 1.6%. the selling last week and today has erased much of the index's june rebound. all ten of the major stock sectors were lower with technology down 2.2%. financials down 2.1%. and the energy sector falling 1.9%. trading volume was moderate 751 million on the big board. almost one and a half billion on the nasdaq. leading the sell off in technology was a pair of semiconductor stocks. communications chip maker broadcom fell 6.1% down to a three week low. advanced micro devices shed 5.6% to its lowest since the first week of january. we also had word of some deal making in technology. the first has microsoft spending over $1 billion for a business social networking company. it's a $1.2 billion deal for yammer and its more than five million

obama's move to halt deportation action against young immigrant nyse a. a waterfront park re-opened today in the north bay to both praise and criticism. christien kafton was in vallejo and explains the controversy. >> reporter: native-american protesters gathered outside of the newly remodeled glen cove park. protesters said the new parking lot sits on sacred land. last year dozens occupied the park, leaving only when the greater vallejo district agreed to modify plans. protesters say say they were duped. >> what they were supposed to do is not put bathrooms,. they were only to have two handicapped parking spots and now have seven and weren't supposed to grade the hill where her ancestor's remains were at. >> reporter: just 30 yards from the protests, celeb rants cheered the opening the park and says it opens the area to the public helping everyone. thresay this area will be planted with native species which should flourish by next year. salvadori from the greatest recreation district says the park was carefully designed to protect native-american sites.

and nyse, and euro next, we're off on the session about 1% and that has to do with the situation in europe

and nyse, and euro next, we're off on the session about 1% and that has to do with the situation in europe now spain, and italy and whether those economies are going to survive without a lot of help. i'll see you tonight seven o'clock eastern, 6 in oxford on the fox report. time for your world with neil cavuto. >> well, thank you, shepard. say it is so, joe, because when it comes to the center piece of arizona's crackdown on illegals, that the supreme court all, but thank sheriff joe arpaio, cracking down on them, at least when it comes to authorities like the sheriff to demand they show their papers. no doubt, joe likes that. today, what joe doesn't like, because joe is here to talk about the pros and the cons of the decision that has much of the nation pretty much confused. welcome, everybody, i'm neil cavuto, and it is the most hotly debated part of that arizona immigration law, a provision at that requires police check the status of anyone they suspect of being in the country illegally. the high court ruling it's legal while leaving the door open to additional challenges. arizona gover

this is a loss of a few analysts are pointing to uncertainty. 3 fell for every one that rose at the nyse and volume was below average. moody's has cut ratings of 28 spanish banks. a new ap poll say the upcoming presidential alexian will have no impact on the state of the economy. take a look. the respondents in a nov. winner will have a slim to none impact on unemployment. years of disappointing economic news has depleted american optimism. the still describes the economy as a corporate stay down over whether they think it will improve. you could be a homeowner in one of the most expensive communities. they are expect -- acepting for the inclusionary zoning qhich requires developers to sell or rent to people of moderate income. an offer is meant to in a come- families. the leanest ground beef are running 5% more. expect to pay 1 cent more on hot dogs. ribs should be $3.50-$4 per pound. one item will be cheaper -- avocados. donna, ole! >> i do love quacamole. 50 acres charred after a 7- alerm fire. what they believe sparked the flame. >> 30 years later, the ronald mcdonald house is still

mary thompson is on the floor of the nyse. they're hoping to drive the stocks up, a fairly narrow range for the dow thousand on rebalancing. since about ten minutes before the close we have seen well over 800 million shares change hands on the floor here. it is about 3.7 billion right now and keeps going as the rebalancing continues. but the 3.7 consolidated and the 1.4 on the floor is well above daily volume. financials, health care, technology, and energy the winners. as investors came back into the market after what some traders say was a oversold session yesterday. moody's downgraded, at least in the after hours yesterday, about receiving the majority of the attention because there was a speck lace it would be a three notch downgrade. there was league issues there to put pressure on the stock during the day. transports were not in the rally today, so although they came off the session lows, look at the railroad stocks. i believe union pacific closed higher today. there was around about a class action lawsuit for price fixe

floor of the nyse.e, chief global strategist and cnbc contributor. dan, good morning. good to see you again. >> good morning. how are you? >> good. finished talking about merkel. you make the point she's as important to your portfolio as any company specific factor. if she's being so explicit about saying never in my lifetime, why does the market even at lower levels appear to be trying to front run her changing her mind. >> a couple of things. first of all when she says never in her lifetime she means her elected lifetime. quite frankly if she loses an election, unless she's going to subvert a democratic process from the outside through nefarious means, i don't know what impact she will have. generally speaking we all know this process ends. we know where we're going. it's with shared liability of debts. i don't actually blame the germans. what's interesting, everybody freaking out about the performance of the market, can't go higher, should be higher if not for europe. i don't blame the europeans. i b

meantime burger king returning to nyse. jumping 5% on its first day of trade.s 3% after the company lowered earnings guidance for the next quarter and full year. >> let's get to the road map of the final hour of "squawk on the street" this wednesday. just another imitator, sampson galaxy s 3 goes on sale tomorrow but we will have a first look now. see if it can live up to the hype. would you buy one? >>> as wall street watches the fed, wets a preview of exactly what we're expecting the market. see what ben bernanke has in store for traders and the economy and what it means ultimately for your money. plus facebook takes center stage on capitol hill. house financial services committee holding a hearing on the trading dliches ongoing the company's ipo day more than a month ago. we'll talk to one of the witnesses appearing, ceo of cowan & company. we'll get his take on what happened and what he's saying. >>> plus why ceos across the country are more than a little bit worried now about jobs and the economy. we have an exclusive look at new data. all that and more co

. >> nasdaq or nyse. >> there you go. >> i ask that question. >> post-facebook what do you do?> that's why i ask it in the same day you're reading the sec made some demands to the changes of nasdaq's trading system given the glitches we saw over the facebook ipo. the ceo will claim that as a victory and that battle with the nyse goes on. >> coty is not so cool. >> would you have thought thkra would have left the new york stock exchange for the nasdaq? i should check the markets is that what you're saying? >> the markets are going crazy? >> yes. as becky mentioned the futures at the top of the show take a look here. looks like we'll have a big open today off of that news coming out of the eu summit. there's sorkin's fair value board. it looks pretty good. we're looking at a gain of 122 points off the pop. crude oil as well, both gold and crude oil shooting higher today. there's a look at the commodity space, heating oil is higher, gasoline moving higher as well. ten year treasuries you would bet yields would be rising across the board. in fact that's the case now as treasuries a

. >> this is what the nyse is raising its hand about.f the nasdaq is going to get more business as a result of the lower fees, how does that impact the competitive landscape? >> exactly. and this statement dives into the fact that around the ipo prices that were not nasdaq-related to divert that compensation that should go to investors. >> correct. kayla, good stuff. we're in the final stretch of trading. dow jones industrial up 200 points. nasdaq up 54. we've got money moving into equities. >>> and then fair or not, the nasdaq has take answer lot of the blame for the facebook fall off after botching that first day of trading three weeks ago. >>> remember tom joyce, the head of knight capital? >> this was arguably the worst performance on an ipo, ever. >>> but can you really blame nasdaq? coming up, because the man in charge of nasdaq, bob greifeld, will join me in the next hour on the "closing bell." tdd# 1-800-345-2550 i'm constantly working my screens. tdd# 1-800-345-2550 checking the charts. tdd# 1-800-345-2550 looking for support, t

took my kids to the nyse. they asked is this where jim cramer works.hed and said, among many others. i go out to englewood cliffs at night and i spend time with the cnbc people. i love post nine. if you come to new york, go to the stock exchange. it's one of the most exciting things you will ever do. take your kids. let's take another from z28barnett. they say apple likely to buy micron tech. i'm floating the red flag. there is absolutely no way this will happen. if you own micron whether for rumor or not, sell, sell, sell. you don't want to be there. that is a nasty stock. stay with cramer. ♪ [ male announcer ] nothing will keep you from magnum. silky vanilla bean ice cream and rich caramel sauce all covered in thick belgian chocolate. magnum ice cream. for pleasure seekers. get two miracles in one product. tone rehab 2-in-1 foundation. covers spots, lines, and wrinkles. and helps improve skin tone over time. tone rehab from easy, breezy, beautiful, covergirl! covergirl! throughout our entire lives. ♪ one a day men's 50+ is a complete multi-vitamin de

on the floor of the nyse, yesterday they hated the bailout, today a change of heart? what gives? >> we erased all of yesterday's losses. a couple things matter today. charles evans at the fed, not a voting member but important over there said the fed wok back moves. then all day european officials talking about a banking union, and german officials saying no we're not going to get one for checks unless they get more control. a real food fight in europe in the political disagreement in europe. i think that was a major factor as well pm look at some of the big sector movers today. all of the global growth sectors beaten up did better today. the materials, energy, and emerging etf had a very nice day today. a lot of people remain skeptical because the action was in hitly, not in spain, italian banks today. the australian finance minister came out and said italy will knead the next bailout of sorts. they caused all of those in europe to say shut up. they said italy does not need a bailout today or in the future. this is merging as a kind of food fight at this point. finally, i would

with interest because we have a number of inter-listed stocks, as you know, with nasdaq and with the nyseuld pay attention to the competitive balance that relates to that fee change. >> so we were talking earlier, terry, about this whole fee idea and you think there is a knew wan nuance so this? >> i do. if the only way that you can get that money is to trade on nasdaq, that could be a competitive problem. if they are just lowering their fees across the board and want to target a certain audience but they are not saying it's associated with facebook, i see nothing wrong with that. >> do you agree with that, tom? >> yes, i do, i would agree with terry's view. of course, we wouldn't object to it. >> a lack of participation by the small investor here in the united states especially, tom, first you. what is it going to take to get the small investor back here into the markets into the united states? >> i think it starts with confidence in the economy. and it starts with a feel that you know where the regulatory environment is going. you know where the tax law is going. and some certainty with

took my kids to the nyse. they asked is this where jim cramer works. said, among many others. i go out to englewood cliffs at night and i spend time with the cnbc people. i love post nine. if you come to new york, go to the stock exchange. it's one of the most exciting things you will ever do. take your kids. let's take another from z 28 barnett. they say apple likely to buy micron tech. i'm floating the red flag. there is no way this will happen. if you own micron whether for rumor or not, sell, sell, sell. you don't want to be there. that is a nasty stock. stay with cramer. acceler-rental. at a hertz expressrent kiosk, you can rent a car without a reservation... and without a line. now that's a fast car. it's just another way you'll be traveling at the speed of hertz. [ engine turns over ] [ male announcer ] we created the luxury crossover and kept turning the page, this is the next chapter for the rx and lexus. this is the pursuit of perfection. >>> lawlessness, utter lawlessness. that's all i can think after barclay's admitted traders tried to mani

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here on the floor of the nyse, bob is back here with me. >> hello there. >> kind of a mixed market today they're not going anywhere. >> we started on the upside up 90. ended down 50 here and now close to break even. while the spanish bailout is not really impressing a lot of people here, there's specific reasons why parts of our sector are to the downside. so for example, materials and industrials have had a tough time throughout the day. the steel stocks, goldman sachs with a very negative comment downgrading ak steel and making generally negative comments of the steel stock. do they need that? not a great quarter for steel stocks in general and worse for the cole stocks. cole stocks are down and -- >> along for the ride. >> not only a bad quarter but a bad year for cole stocks. >> is that with global growth story once again or the lack thereof? >> slowdown and lack of demand in the steel markets in china affecting them and the slowdown here. just want to note the industrials on either side of positive or negative here and the hmo stocks are weak, as well. centene talked about higher co

let's check in with mary thompson at the nyse, rick santelli at the cme. mary, feels like the loss is coming out of nowhere but you have a global slowdown and therefore feels like a globally synchronized selloff. >> felt that way. it was interesting, mandy, at the open. we had a mixed picture. disappointing data of germany on the manufacturing read but then, of course, 10:00 we had very bad data here in the u.s. most notably on the philly fed list and then after that, we had the call from the firm goldman on shorting the s&p 500. all of this combining to accelerate the selloff we are seeing right now which is certainly driven by commodities and materials today. let's take a look at the leading losers within the dow which right now is sitting call it about 13 points above the session lows. again, that is commodities and tech story. all of these weaker and bank of america, as well. keep in mind a number of people waiting to see whether or not moody's comes through with the debt downgrade that's been talked about since last february on the global investment b

we start with brian shactman at the nyse. >> what a day, sue. thank you very much. the market taking a hit. word on the street is a note from goldman sachs telling clients to short the s&p. some other reasons they're all negative. a little bit off the lows in the dow but 150 points good for more than 1%. nasdaq more than 1.5%. quote, we are recommending a short position in the s&p 500 with a target of 1285. roughly 5% below current levels. made the call with the lower than expected philly fed index. short the s&p today you're up more than 1%. if we take a look at those numbers. almost 3% on the leveraged etf sds and the dog, one of the best in the business, short the dow 30. joining me on the floor, joe greco. we have economic numbers here. the note out of goldman. we got the spain, banks need. when's the most important thing you're focused on and people at home should be focused? >> you need to put those together and build a story. you know? this morning we were talking to clients as we said looks like heading lower. that's softening up the body. goldman put that i

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i want do get down to the floor of the nyse where mary thompson is standing by. mary, lots of things going on, quadruple witching, for example. a lot of comments coming out yesterday. uk says it's ready to do more stimulus, the ecb saying it's possibly hinting at a rate cut. with the gains seeing today and late yesterday, is that put already priced in to the market? >> i'm sorry, mandy. the put on what? >> i was saying the possible coordinated global central bank action -- >> yeah. >> is the possibility of that priced in to the market as we stand? >> yeah, certainly. i mean, that's what they seem to be looking at today when you have the dow close to the session lows. you know, all of this despite continued weak data of the united states. not only expecting, you know, support of the central banks around the world in the event something happens in europe and increasingly the talk on the floor here is that there will be an extension of operation twist or some kind of added stimulus of the u.s. federal reserve here, as well. all of this providing support to the marke

it is a very tough day down here at the nyse. the dow is down 227 points. almost 2%. s&p 500 is off better than 2% or 26 points. and we're holding at that 1280 level. the nasdaq down 2.25% or about 63 points to the downside today. and, ty, we've also penetrated the 200-moving day average on several of those indices. >> sue, thank you. those are the numbers of course. numbers that affect you and your money. on your screen now are the players as our live team coverage begins. we turn first to scott wapner. >> tyler, thanks so much. a perfect storm really today in terms of a weak jobs report. much weaker than expected here in the united states. weak pmis over in china just underscore that that economy is slowing. europe remains a big problem. and that's what you have. the dow jones industrial average as you see it now is now negative for the year of 2012. 12,161 is where it sits. 12,217 would be flat on the year. dow goes negative for the year of 2012. s&p 500 keep close watch on this today. 1284 is the 200-day moving average. that was breached as well. look here at crud

down here on the floor of the nyse with me is bob pisani. >> for all of this hand waving about the greek elections, it is healthy line. we are trading at a narrower trading range than we usually do. this is an 80-point trading range. this could be a telling week. the markets hold up well despite the worries and i think what the fed says and g-20 if miss merkle says could validate the bottom fishing or not. i think this potentially has the makings of an important week. >> are you worried that the euro crisis? it's continuing to drag out. this is obviously a test for the new government. they have a lot on their plate that they have to change, certainly. but what are the expectations in the u.s. market of that? >> well, i think they think it goes on for a long time. everyone adopted the euro to break up strategy. i don't know why everybody adopted this idea. they're going to throw everything at this before that gets close to that. i think it's several years down the road from anything like that happening and this policy in the united states. look how defensive the markets are. look at the m

exchange meeting, a conference that draws the leaders together in one place and topping that list, nyse ceo duncan niederauer. everyone waiting to hear what he has to say about the botched facebook ipo. he'll join me with the first interview since that offering. the plunge in oil. only four of those since 1983. should you be buying that dip? no summer slowdown this weekend. why you should be watching for market-moving news over the weekend, both saturday and sunday. lots to trade today. let's start doing it, great straight to the markets. s&p on track for the best week of the year. but grasso, it's been a bumpy road. holding on to modest gains today. oil's the story in the pullback we're seeing but hard to find anybody to be long in to the weekend. >> well, you know, i'll take the other side of that. recently it's been that way. no one wanted to be long. now you look at the guys worried about news making days saturday, sunday. the weekend's are not being taken off in the euro zone so you could have a catalyst for an upside break. 1333 is the level to watch in the s&p. >> bk, grasso talk

. >> as for the trading action here we're up 48 points, mary thompson joins me here on the nyse floor the mini summit you're not buying it here. >> not at all. it didn't cause a ripple. talking to traders ahead of the open they said that was one of the things they were focusing on, the headlines came out, not much of a reaction. >> i'm surprised. >> we're holding on to the gains and been in a fairly narrow range. bit of a change in leadership, financials early on seeing a pickup in energy, health care stocks have been strong throughout the day, and tech is actually taking a leading position right now. take a look at the lagers, though, because yesterday there were all the concerns about the slowdown in global growth, materials and industrials weaker. the weakness in industrials continues today and utilities have been weak, transports under pressure, the railroads are the weak sector, concerns about a class action lawsuit. energy as i mentioned making a rebound there as you can see, it's starting to climb along the back of a recent turnaround in the price of crude in today's session, a

well, we still have steve with us here at the nyse. is more qe coming in your view? how do you play it? >> i would say more likely in europe than here. here i think we're just bouncing along. i think the fed wants to see a little more weakness in jobs before they do something. >> so much of the market expects qe, least of course those bought mortgage backed securities. if they don't have, that could be a problem? >> could be. but i think most of the market wants to see something happen in europe. if we get marginally positive news there, that will overwhelm whatever the fed does. >> still more from steve auth in the program. >> look very much for it indeed. in europe, the man in charge of europe instead of the fed, can mario draghi back it up? how will he do that? five stocks in just about every portfolio. we are back in a flash to the downside today with caterpillar, ge, bank of america, hp and united technology all making list to the downside. ou picked up back in the '80s. tdd#: 1-800-345-2550 like a lot of things, the market has changed, tdd#: 1-800-345-2550 and

on "fast money" halftime, the judge asked nyse ceo about reports trying to get facebook to jump shiprom the nasdaq. >> i think they know we're here for them. and i wouldn't speculate beyond that. >> are you just categorically saying we have not spoken? you haven't spoken to mark zuckerberg, sheryl sandberg? >> i have not. >> you must view this as an opportunity. >> sure we do. we like to win. we like to win the right way. it turns out they're the customer. so we'll let the customers decide what they want to do. that's my point of view. >> very politically correct. otherwise, cnbc has learned, maria bartiromo that is, ubs has a big problem with facebook. the firm sitting on losses that could be as high as $350 million, some ten times more than the $30 million number that is currently being speculated in the market. the firm is preparing legal action against nasdaq as a result. the issue has to do with the failure to get confirmations and executions for the facebook trade. nasdaq shares down about .25%. maria will be on in just a bit more for more on this story that she's breaking as w

in the meantime, let's check back in as to what's happening down on the floor of the nyse. mary thompson, what are you hearing right now? >> same story as friday, mandy, weak pressure on the markets right now. the dow jones industrial average down about 54 points in the wake of a disappointing number on april factory orders and some disappointing readings on manufacturing in the new york state area. you can see the markets off the lows of today. but take a look at some of the companies that are under pressure from the news of those weak factory orders, specifically the machinery companies, companies that make heavy equipment, et cetera. all of them under pressure in today's session. the s&p 500 continuing its slide as well. of course friday breaking below it's 200-day moving average. today breaking below near-term support at 1275. 1250 is the next level a number of technicians are looking for there. what are the groups pacing the decline in the s&p today? some familiar names. industrials, financials, materials as well as energy among the weaker groups. one bright spot is re

certainly talk about what is happening at the nyse. you also get his first comments since the facebook ipo as well. a lot to talk to duncan about. we'll do that on friday again on "halftime." looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today and discover another reason serious investors are choosing fidelity. [ male announcer ] introducing a powerful weapon in your fight against bugs. ortho home defense max. with a new continuous spray wand. and a fast acting formula. so you can kill bugs inside, and keep bugs out. guaranteed. ortho home defense max. the economy needs manufacturing. machines, tools, people making stuff. companies have to i

maria joining us from the nyse with a debrief. thanks for coming on the show. you and the former president talk about? >> it was great to catch up with president clinton. particularly now during this very fragile time in our economy. given the fact that president clinton oversaw this economy during the go go days of the '90s. the real vie bransy in the economy. was the last president to balance the budget. led a budget surplus. he was concerned about what he saw in europe. the economy is anemic evidenced by jobs numbers last week. he was pretty downbeat about the u.s. economy. one thing he stressed a few minutes ago was the fact we should avoid a fiscal cliff at all times. by all means. in fact, he suggested that the bush tax cuts should be extended as well as those spending programs. bottom line, don't let this go too far to get out of control. avoid that fiscal cliff at all costs. >> what about this upcoming fiscal cliff? because a lot of people are worried and the markets certainly have been reacting to the idea that these bush tax cuts will expire at year e

so let's get straight out to the knuckles and get down to the nyse floor with mary. and then over to rick as well. mary, we are now, what? officially in correction mode here? >> for the s&p 500 and the nasdaq, today, mandy. you know what we've seen in about the last hour or so is the market decline accelerating as we head to the close for the weekend. a lot of traders not wanting to be long into the weekend. this built on the disappointing jobs data today, disappointing jobs numbers on china of manufacturing and disappointing information out of india. the dow jones industrial average erasing all of gains for 2012 in today's session. and just off the lows of the day as we speak. the s&p 500, couple of things here moving in correction territory, meaning it's 10% below a recent peak. it's also moved below a key technical level, that being its 200-day moving average of 1284 trading below that now if it closes below that, if volume is decent, that bodes poorly for the days ahead. a negative sign for that indicator. also the nasdaq as i pointed out earlier also entering co

a lot more "squawk on the street" live from the post at the nyse when we return.nd kept turning the page, this is the next chapter for the rx and lexus. this is the pursuit of perfection. ♪ [ female announcer ] you're the boss of your life. in charge of long weekends and longer retirements. ♪ ask your financial professional how lincoln financial can help you take charge of your future. ♪ introducing gold choice. the freedom you can only get from hertz to keep the car you reserved or simply choose another. and it's free. ya know, for whoever you are that day. it's just another way you'll be traveling at the speed of hertz. >>> >>> the streak continues for disney's pixar division. "brave" was the biggest box office winner over the weekend taking in $66.7 million. "brave" becomes pixar's 13th consecutive movie to debut at number one. that brings us to this morning's "squawk on the tweet" -- what would it take for a pixar movie to actually bomb at the box office? you can tweet us at cn. a big smash, "brave" was over the weekend. >> the kids who were 3, we talked about